Study of wills and trusts and survey of fundamental principles of law applicable to each. Also a study of organization and jurisdiction of surrogates courts, detailed analysis of administration of estates and review of estate and inheritance taxes applicable to such estates.
Pre requisites: BL40 and BL41 or approval of instructor. A-G/ 3 credit hrs.
III. GOALS OF THE COURSE:
The law faculty will assist business and non-business majors to achieve the desired learning outcomes listed below. In addition, the faculty will provide an opportunity for all students to develop, improve, expand and practice their written and oral communication, problem solving, collaborative, hypothetical application, research and decision-making skills.
To that end, instruction will be directed at introducing students to:
A. Identifying the need for estate planning.
B. Distinguishing methods of disposal of assets.
C. The jurisdiction of the Surrogate’s Court.
D. The safeguards provided for infants, and those with mental incapacity.
IV. STUDENT LEARNING OUTCOMES:
Upon successful completion of BL86 (Estates, Trusts and Wills) students will:
A. draft a Trust Agreement.
B. draft a Will.
C. draft a Small Estate Petition.
D. draft an Administration Petition and Supporting Papers.
E. draft Estate Tax Returns.
F. draft and Estate Accounting Petition and Supporting Schedules.
G. Determine when a trust instrument is appropriate.
H. Understand the role of executors, guardian, and administrators.
V. SPECIAL INSTRUCTIONS/INFORMATION FOR THE TEACHER:
A. Prerequisite to this course: BL40 and BL41 or approval of instructor.
B. Programs that require this course
A.A.S. Degree: Paralegal Studies
Certificate Program: Paralegal Studies
C. Courses which require this as a prerequisite or corequisite:
Prerequisite: BL87
Corequisite: None
D. External Jurisdiction: This course has been structured to meet the
requirements of the American Bar Association for courses in
Paralegal Studies.
VI. MAJOR TOPICS REQUIRED (37 ½ Hours)
A. UNIT ONE (4 HOURS approx.)
The Law of Distribution
Will Drafting
Estate Planning
B. UNIT TWO (6 HOURS approx.)
Intestate Distribution
Right of Election
Disqualification of Surviving Spouse
Exempt Property
Afterborn children
C. UNIT THREE: (6 HOURS approx.)
Testate Distribution
Rule against perpetuities
In Terrorem Clauses
Creation of Trusts
D. UNIT FOUR: (7 HOURS approx.)
Probate and Administration
Parties to the Proceedings
Small Estate Settlement
Contested and Uncontested Probate
Letters Testamentary
E. UNIT FIVE: (3.5 HOURS approx.)
Estate Administration
Marshalling the Assets
Payment of Legacies
F. UNIT SIX (8 HOURS approx.)
Settlement of Account
Constructive Proceedings
Formal Judicial Accounting
Guardians ad litem
Trust Administration
F. STUDENT LEARNING ASSESSMENT (3 HOURS)
VII. SUPPORTING INFORMATION:
Due to the nature of the course, emphasis will be placed on the organization and jurisdiction of the Surrogate’s Court.
VIII. EVALUATION OF STUDENT PERFORMANCE (4 HOURS)
A. It is strongly suggested that there be at least two (2) full periods
examinations (or the equivalent in distance education sections) and a
portfolio. The examinations could include short answers, completion, and essay questions. The portfolio could include drafting a power of
attorney, will, and trust agreement.
B. The Business Administration and Accounting Department endorses the
college’s “Writing to Learn” initiative and strongly recommends that a
writing component be included in all business and accounting courses.
